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UAE-based Fasset awarded Best Cryptocurrency and Blockchain Company at Inc Arabia Business Awards 2024
Fasset, the UAE-based digital asset exchange, has been recognized as the best cryptocurrency and blockchain company at Inc Arabia’s Best in Business Awards. The prestigious annual award aims to celebrate outstanding achievements, innovation and impactful contributions of GCC-based enterprise platforms across 31 categories.
From left to right: Fasset co-founders Daniel Ahmed (chief operating officer); Mohammad Raafi Hossain, (Chief Executive Officer), at the awards ceremony on 12 June
The Inc. Arabia Best in Business Awards highlight companies making significant contributions to the economic growth and development of the GCC region. The goal is to showcase best practices, leadership and disruptive initiatives shaping the future of business across a range of categories, from e-commerce and real estate, to artificial intelligence and fintech. All candidates go through a rigorous selection process by Inc.’s evaluation committee made up of decision makers and thought leaders from all industries.
Co-founded in 2019 by Mohammad Raafi Hossain (CEO) and Daniel Ahmed (COO), both former advisors to the UAE Prime Minister’s Office where they contributed to the UAE’s vision of technological excellence, Fasset has the mission of democratize access to innovative financial management tools for the next billion people globally.
Mohammad Raafi Hossain, co-founder and CEOcommented: “Fasset’s recognition in the Best in Business Awards is a testament to the vision of our company, as well as the hard work of the 86-member team across our 3 offices to provide the best possible product to our users and to provide them with innovative yet transparent and secure investments and money management solutions. We launched the project in the UAE earlier this year and I can assure you that we are just getting started. I am excited for Fasset’s future plans in the region and beyond.”.
Fasset’s platform enables secure, seamless transactions involving digital and tokenized real assets from anywhere and in the user’s preferred currency. Users can purchase and invest in real-world digital and tokenized assets, take part in spot exchange transactions, and transfer funds, all in a blockchain environment. Among the available investment options are cryptocurrencies, stablecoins and bundles.
Launched in the UAE in March 2024 after obtaining a fully operational VASP license from VARA in a rigorous multi-stage approval process, Fasset has made rapid progress since then. In April 2024, the company announced its plans to launch in Malaysia after signing a letter of intent with MBSB Bank Berhad at the KL20 summit. The partnership was marked by Malaysian Prime Minister Anwar bin Ibrahim as proof that the country is ready for an innovative transformation. The company plans to further expand its operations in the region and beyond in the near future, having amassed a large portfolio of digital asset licenses in emerging markets, connecting places such as the United Arab Emirates, Indonesia, Malaysia, Bangladesh, Pakistan and Turkey.
About Fasset
Fasset is a fintech startup that allows people and companies to invest securely from anywhere in the world. Founded by Mohammad Raafi Hossain and Daniel Ahmed, Fasset has raised a total of $26.7 million in funding. In November 2023, Fasset obtained a VASP license from Dubai’s Virtual Asset Regulatory Authority (VARA) which allows the distribution of digital assets and services to retail and institutional investors in the UAE and globally.